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Economy, Currency and Banking

Guatemalan currency, central bank, army, dollar, average

The Guatemalan currency is the quetzal (7.76 quetzals equal U.S.$1; 2000 average). It was established in 1926, with 1 quetzal equal to U.S.$1, where it remained until 1986. Then, because of inflationary pressures, the quetzal was devalued to 2.50 quetzals to the dollar, and it has continued to decline. The Bank of Guatemala (established 1946) is the central bank and sole issuer of national currency. Both foreign and domestic private banks operate throughout the country, as does one owned by the army.



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Guatemalan currency, central bank, army, dollar, average, country

 
 

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